Konica Minolta Pull Out of Camera Business

On the heals of Nikon's annoucement that they are Stopping production of all but two film cameras, Konica Minolta announced today that they are throwing in the towel on their stake in the photo market.

Konica bought long time camera and technology company Minolta in 2003. Now they plan to sell their digital camera business to Japanese consumer electronics giant Sony. They claim it has become too dificult to compete in the current camera market and have decided to focus on their photocopier market. Konica Minolta has also axed it's color film and paper products and expects to end their production by March of 2007.